StockNews.com Begins Coverage on TriMas (NASDAQ:TRS)

Posted by Adam Dyson on Mar 19th, 2023

StockNews.com initiated coverage on shares of TriMas (NASDAQ:TRS – Get Rating) in a research report sent to investors on Thursday morning. The brokerage issued a hold rating on the industrial products company’s stock.

Separately, TheStreet raised shares of TriMas from a c+ rating to a b- rating in a research report on Tuesday, February 14th.

TriMas Price Performance

TRS stock opened at $26.85 on Thursday. The firm has a 50-day moving average of $29.89 and a 200 day moving average of $27.82. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.02 and a quick ratio of 1.85. The company has a market cap of $1.11 billion, a P/E ratio of 17.10 and a beta of 0.72. TriMas has a 1 year low of $21.41 and a 1 year high of $33.69.

TriMas (NASDAQ:TRS – Get Rating) last released its earnings results on Thursday, February 23rd. The industrial products company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.04). The firm had revenue of $203.31 million during the quarter, compared to analysts’ expectations of $211.65 million. TriMas had a net margin of 7.49% and a return on equity of 11.90%. The company’s revenue for the quarter was down 2.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.56 EPS. On average, sell-side analysts forecast that TriMas will post 2.04 EPS for the current year.

TriMas Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 9th. Investors of record on Thursday, March 2nd were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.60%. The ex-dividend date of this dividend was Wednesday, March 1st. TriMas’s dividend payout ratio (DPR) is presently 10.19%.

Insider Buying and Selling at TriMas

In other news, Chairman Samuel Valenti III sold 4,000 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was sold at an average price of $29.68, for a total transaction of $118,720.00. Following the completion of the transaction, the chairman now directly owns 8,148 shares in the company, valued at $241,832.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On TriMas

A number of institutional investors have recently made changes to their positions in TRS. Rockefeller Capital Management L.P. boosted its position in shares of TriMas by 308.2% during the third quarter. Rockefeller Capital Management L.P. now owns 1,298 shares of the industrial products company’s stock valued at $32,000 after buying an additional 980 shares during the last quarter. Ellevest Inc. boosted its holdings in shares of TriMas by 1,117.7% during the 3rd quarter. Ellevest Inc. now owns 2,545 shares of the industrial products company’s stock valued at $64,000 after acquiring an additional 2,336 shares during the last quarter. UBS Group AG grew its stake in shares of TriMas by 80.9% in the third quarter. UBS Group AG now owns 3,614 shares of the industrial products company’s stock worth $91,000 after acquiring an additional 1,616 shares during the period. PNC Financial Services Group Inc. raised its holdings in shares of TriMas by 182.2% during the first quarter. PNC Financial Services Group Inc. now owns 2,912 shares of the industrial products company’s stock valued at $94,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of TriMas by 171.3% during the third quarter. Tower Research Capital LLC TRC now owns 4,435 shares of the industrial products company’s stock valued at $111,000 after purchasing an additional 2,800 shares during the last quarter. Hedge funds and other institutional investors own 99.94% of the company’s stock.

About TriMas

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TriMas Corp. engages in the manufacture of industrial products for customers in the consumer products, aerospace, industrial, petrochemical, refinery, and oil and gas end markets. It operates through the following segments: Packaging, Aerospace, and Specialty Products. The Packaging segment designs and manufactures dispensing products, including foaming pumps, lotion and hand soap pumps, sanitizer pumps, beverage dispensers, perfume sprayers, nasal sprayers and trigger sprayers, polymeric and steel caps and closures, including food lids, flip-top closures, child resistant caps, drum and pail closures, and flexible spouts, polymeric jar products, and fully integrated dispensers for fill-ready bag-in-box applications, all for a variety of consumer product markets including, but not limited to, beauty and personal care, home care, food and beverage, and pharmaceutical and nutraceutical, as well as the industrial market.